Stock Market: Indices Rebound; Sensex Rises 280 Points, Nifty Trades Near 15,950

Stock update: On the BSE, Titan was the lead gainer, up 2.30 per cent, followed by Sun Pharma, HUL, M&M, L&T, Reliance, and others

In the broader markets, the BSE Midcap and Smallcap indices rose up to 2 per cent. Image: Getty

Source : Getty

New Delhi: Sensex and Nifty, the two key benchmark indices, on Friday rebounded sharply after a straight five-session loss, tracking gains in US and Asian markets across all sectors.

The Sensex jumped 635 points higher during early trade. The Nifty soared 186 points.

At 10.15 am, the 30-share BSE Sensex was up 280 points to 53,210, while the broader NSE Nifty was trading at 15,911, up 103 points.

On the BSE, Titan was the lead gainer, up 2.30 per cent, followed by Sun Pharma, HUL, M&M, L&T, Reliance, and others. On the flip side, the top losers were Airtel, down 1.35 per cent, NTPC, Wipro, ICICI Bank, UltraCemco, HDFC Bank, and others.

In the broader markets, the BSE Midcap and Smallcap indices rose up to 2 per cent.

On the NSE, all of the 15 sector gauges were trading in the green. Nifty Auto, Nifty FMCG, and Nifty Pharma were outperforming the index by rising as much as 2.53 per cent, 1.96 per cent and 2.21 per cent, respectively.

Overall, the market breadth stood strong as 2,257 shares were advancing, while 443 were declining on the BSE.

In the previous trading session on Thursday, the Sensex plunged 1,158 (2.14 per cent) to end at 52,930. The NSE Nifty fell 359 points (2.22 per cent) to settle at 15,808.

Meanwhile, Asian markets, were trading in the green, with Tokyo, Hong Kong, Seoul, and Shanghai quoting significantly higher.

"Asian stocks rose on Friday in a roller coaster ride amid a bout of calm in global markets," Deepak Jasani, head of retail research, HDFC Securities, told the PTI.

Stock exchanges in the US had ended on a mixed note on Thursday.

Global oil benchmark Brent crude jumped 1.57 per cent to $109.14 per barrel.

According to stock exchange data, foreign institutional investors (FIIs) continued their selling spree and offloaded shares worth Rs 5,255.75 crore on Thursday.

India’s inflation zoomed for a seventh straight month to touch an 8-year high of 7.79 per cent in April on rising food and fuel prices, raising the odds of an interest rate hike by the RBI early next month to tame prices.